With India looking to source oil from the US and its companies signing defence and aviation contracts with American businesses, the potential and "spin-off benefits" of a deepening economic partnership between the two countries are enormous, India's Ambassador to the US Harsh Vardhan Shringla said.
"The US is India's largest trading partner and we are America's 9th largest trading partner. We have significant investments in each other's countries. Not only has the US invested about USD 50 billion in India, our country has also invested close to USD 20 billion in the US," Shringla told PTI in an interview here.
The Indian Ambassador was on a brief yet action-packed visit to the city earlier last week and had very fruitful and comprehensive engagements with top political and business leaders.
He said Indian hi-tech companies have created value in the US of over USD 50 billion and created 175,000 jobs in the country. "So it is a two-way relationship that can only move forward and if it moves forward it is to a mutual benefit."
Shringla echoed Prime Minister Narendra Modi's assertion that the 'Make in India' program and President Donald Trump's focus on 'America First' are not contradictory but are initiatives that are "complimentary and can co-exist."
Indigo ordered CFM International LEAP-1A engines to power 280 Airbus A320neo and A321neo aircraft. The contract, which includes spare engines and an overhaul support agreement, is valued at more than USD 20 billion US at list price, with the Indian envoy describing it as the "single largest contract in aviation history."
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